Mortgage applications

Mortgage applications decreased 4.3% from one week earlier although concerns over the global economy resulted in falling interest rates, according to the Mortgage Bankers Association.

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Purchase mortgage applications, which until now were unaffected by the recent rise in interest rates, fell by 4% on a seasonally adjusted basis from last week, according to the Mortgage Bankers Association.

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to the Mortgage Bankers Association.

Mortgage rates rose slightly for the second consecutive week, but should remain low for the foreseeable future, which will aid the purchase market, according to Freddie Mac.

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Mortgage application volume fell 5.6% from one week earlier as rising interest rates put an end to the recent surge in refinancings, according to the Mortgage Bankers Association.

Loan applications for newly constructed properties accelerated going into this year's peak home buying season, contrasting with the weakness seen in the market a year ago, according to the Mortgage Bankers Association.

Mortgage refinance applications reached their highest level in three years as interest rates plunged last week in the aftermath of the Federal Open Market Committee's March meeting.

Average mortgage rates fell by their largest amount in more than 10 years last week as bond yields fell in reaction to the March 20 Federal Open Market Committee meeting.